Accelerators and Incubators: Enhancing Networking for Innovation in High-Tech Manufacturing.

Abstract

Effective commercialization is crucial for the success and growth of small-scale, high-tech manufacturing enterprises in Sri Lanka. Incubators and accelerators are two types of startup support programs that provide essential resources and opportunities for startups. Incubators offer long-term support, including office space, mentorship, and access to legal and accounting services. Accelerators provide shorter-term, intensive programs focused on accelerating startup growth through mentorship, networking, and funding opportunities. This study explores how accelerators and incubators facilitate networking and collaboration opportunities for innovation commercialization in the small-scale high-tech manufacturing industry. Using a qualitative research strategy, we conducted in-depth interviews with 12 founders of small-scale high-tech manufacturing enterprises who participated in incubator or accelerator programs. Thematic analysis of the data revealed that incubators and accelerators significantly mitigate resource limitations by providing access to shared resources such as high-tech labs, equipment, and expert knowledge. Networking opportunities within these programs enhance startups' credibility, making them more attractive to investors and partners. Strategic partnerships formed during these programs are crucial for co-development projects and commercial agreements, providing necessary industry validation and resources. This research fills a critical gap in understanding the specific mechanisms through which accelerators and incubators facilitate networking and collaboration, leading to successful innovation commercialization in high-tech manufacturers. Future research should include quantitative studies to generalize the findings and explore additional factors influencing innovation commercialization. The insights derived are essential for policymakers, industry practitioners, and entrepreneurs in designing targeted interventions to promote innovation, entrepreneurship, and industrial growth in developing economies.